Christianson Jon 4

What Happened

• Jon Christianson, President of Palomar Holdings (PLMR), had restricted stock units (RSUs) convert into 1,020 common shares on 2026-02-18 (reported as an “exercise or conversion of derivative” at $0.00). As part of the RSU settlement, 522 shares were disposed in an open-market sale at $128.04 for proceeds of $66,837. The filing also reports a 1,020-share derivative disposition (reported at $0), reflecting settlement mechanics of the award. This activity was primarily an RSU vest/settlement event rather than a discretionary purchase.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely).
• Sales: 522 shares sold at $128.04 each, proceeds $66,837.
• Conversions: 1,020 RSUs converted to common shares (reported at $0.00).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes:
  • F1: The 522 shares were automatically sold by the company to cover minimum statutory tax withholding from the RSU vest (mandatory sell-to-cover).
  • F3: The RSU grant originates from a 11/18/2021 award of 20,396 RSUs with a scheduled vesting pattern; 1,020 units vest quarterly following the third anniversary (explains today’s 1,020-unit conversion).
  • F2: Indicates 2,410 shares were acquired via the company’s 2019 ESPP (affects holdings disclosure).
• No indication this is a 10% owner transaction; appears to be routine executive award settlement rather than a market timing sale.

Context

• The “M” code (exercise/conversion of derivative) here reflects RSUs settling into common stock. The mandatory sell-to-cover (F1) is a common tax-withholding mechanism and does not necessarily indicate the insider is selling additional shares for investment reasons. For retail investors, purchases tend to be stronger positive signals than routine vest-and-withhold transactions; this filing mainly documents award settlement and associated tax withholding.